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Inchcape (LON:INCH) Stock Price Passes Above 200-Day Moving Average - Here's Why

Inchcape logo with Consumer Cyclical background

Key Points

  • Inchcape plc shares have recently crossed above their 200-day moving average, indicating potential bullish momentum, with current trading at GBX 808 ($10.86).
  • Analyst firms like Citigroup and Berenberg Bank have set price targets for Inchcape shares, with Citigroup lowering its target to GBX 1,161 ($15.60) while maintaining a "buy" rating.
  • Insider Adrian Lewis purchased 150 shares recently at an average price of GBX 684, suggesting confidence in the company as insiders hold 14.84% of the stock.
  • Want stock alerts on Inchcape? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Inchcape plc (LON:INCH - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 698.93 ($9.39) and traded as high as GBX 811 ($10.90). Inchcape shares last traded at GBX 808 ($10.86), with a volume of 488,239 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on INCH shares. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 1,120 ($15.05) price objective on shares of Inchcape in a research note on Thursday, June 26th. Citigroup lowered their price objective on Inchcape from GBX 1,163 ($15.63) to GBX 1,161 ($15.60) and set a "buy" rating for the company in a research note on Thursday, July 17th.

View Our Latest Report on INCH

Inchcape Price Performance

The stock has a 50 day moving average of GBX 722.86 and a 200-day moving average of GBX 698.75. The stock has a market capitalization of £3.14 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 206.10.

Insider Activity at Inchcape

In related news, insider Adrian Lewis purchased 150 shares of the company's stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of GBX 684 ($9.19) per share, for a total transaction of £1,026 ($1,378.66). 14.84% of the stock is owned by insiders.

About Inchcape

(Get Free Report)

Inchcape is the leading global automotive distributor, with operations across six continents. By combining our in-market expertise with our unique technology and advanced data analytics, we create innovative customer experiences that deliver outstanding performance for our partners – building stronger automotive brands and creating sustainable growth.

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